Antalya, situated on the Mediterranean coast of Turkey, has become a highly sought-after location for foreign property buyers in recent years.
This is due to a plethora of advantages that the city presents, such as its picturesque beaches, mild climate, and thriving economy. One of the key benefits of buying property in Antalya is the relatively low cost of real estate. Despite a steady increase in prices in recent years, they remain significantly lower than in many comparable cities worldwide, such as Europe and North America. For instance, the average sales price per square meter (sqm) in Antalya is currently around $800 USD, whereas in major European cities like London and Paris, it can be five times more.
In terms of rental prices, Antalya is also a very attractive option for foreign investors. The average rent price per sqm in the city is around $8 – $12 USD per month. This is lower than in many other major cities around the world, making it a desirable choice for those looking to invest in a property with the intention of renting it out. In the peak summer season, rental prices can be significantly higher.
One of the best areas to look for property in Antalya is the city center, which boasts an abundance of restaurants, cafes, and shops. Prices in this area are generally higher than in other parts of the city, but the location is perfect for those seeking a lively and active lifestyle. Other sought-after areas for property buyers include Konyaaltı and Lara, which are renowned for their beautiful beaches and upscale properties. Another advantage of buying property in Antalya is the expanding economy of the city. The tourism industry is a significant contributor to the local economy, and the city also hosts numerous large companies and industries.
This creates a high demand for rental properties, which can provide a steady income for property investors. In comparison to other major cities abroad, Antalya offers a more affordable and attractive real estate market. For example, in Miami, the average price per sqm is around $3,500, while in Antalya the price per sqm is around $800. Similarly, in Dubai, the average price per sqm is around $2,000, while in Antalya the price per sqm is around $800.
In conclusion, Antalya presents a great opportunity for foreign property buyers. With relatively low prices, a growing economy, and a prime location, it is an attractive option for those looking to invest in real estate abroad. With all its desirable features, stunning beaches, and lovely weather, Antalya is also an ideal place to live and experience the Mediterranean lifestyle. It is essential to note that when buying property abroad, it’s always recommended to seek professional legal and financial advice and take into account all legal regulations, taxes, and other potential costs.
